Category: Insights
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Third C of Lending: Collateral
We’ve talked about Credit and Capacity in this series. Now, let’s dive into the third C: Collateral. This is a crucial part of the mortgage process because it determines if the property you’re buying is good security for the loan. Understanding Collateral Collateral is the property you pledge as security for the loan. In mortgage… Read more
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First C of Lending: Credit
When it comes to getting a mortgage, one of the biggest things lenders look at is your credit. Credit is super important for deciding if you’ll get approved and what loan terms you’ll get. In this chapter, we’ll break down the first C of mortgage lending: Credit. We’ll talk about how credit scores are calculated,… Read more
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The 3 C’s of Lending
In mortgage lending, there are three key factors lenders use to decide if you can get a loan: Credit, Capacity, and Collateral. Let’s break these down in simple terms so you can understand why they matter. Credit is the first thing lenders look at. Your credit score shows how responsible you are with money. It’s… Read more
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First-time Homebuyer Programs in Texas
Embarking on the journey of purchasing your first home is exciting but can also be daunting, especially from a financial perspective. Texas offers several programs designed to assist first-time homebuyers, making homeownership more accessible and affordable. Texas First-Time Homebuyer Programs Texas is home to multiple programs that benefit first-time buyers by offering down payment assistance,… Read more
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Understanding the Nevada Housing Market Trends
Navigating the Nevada housing market can be a complex endeavor, especially with its ever-changing dynamics. This blog post will delve into the current trends shaping the Nevada housing landscape, offering both new and seasoned home buyers valuable insights to make informed decisions. The Dynamics of the Nevada Housing Market Nevada’s housing market, particularly in hotspots… Read more
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Interest Only Mortgage
Description An interest-only mortgage allows the borrower to pay only the interest on the loan for a specified time, typically 5-10 years. After the interest-only period, the payment will increase to include both principal and interest. Benefits Requirements Loan Options Most interest-only loans are structured as adjustable-rate mortgages, adding a level of risk due to… Read more
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Reverse Mortgage
Description A reverse mortgage is a loan available to homeowners who are 62 years or older that allows them to convert part of the equity in their home into cash. The loan is called “reverse” because the lender makes payments to the borrower. Benefits Requirements Loan Options Options include lump-sum payments, monthly payments, or a… Read more